11187 Shannon Cir · Bonanza, GA 30228

$189,900

3 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 188 Days on market

Built 1977 0.35 ac lot $122/sqft · 25% below area Est $253k · 25% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.2/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice home on a corner lot. Open Living room, kitchen, dining room plan. 3-bedroom ,2 bath. Open Loft Area with fireplace. 2 car garage. private Larde fenced back yard.

Key facts

• Open living room
• Open loft area
• Corner lot

Tags

• CORNER LOT
• OPEN LIVING ROOM
• OPEN LOFT AREA
• PRIVATE FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 5.2% in Bonanza — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 62/100 on livability (#314 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, schools F, amenities F.
• Clayton County (suburban): math 11% / reading 20% proficiency, ranked #155 of 174 in GA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.2%/yr); 547 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 865 units permitted in Clayton County in 2024 (448 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Clayton County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (median comp): $252,714
• List price: $189,900
• Delta: -24.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11203 Knotty Pine Pl	0.25mi	3/2.0	1,444 (-7%)	1mo	$195,000	$135	75
11139 Silver Aspen Ct	0.18mi	3/2.0	1,464 (-6%)	8mo	$210,000	$143	75
11120 Tara Glynn Dr	0.31mi	3/2.0	1,459 (-6%)	3mo	$249,000	$171	72
11224 Aliyah Dr	0.14mi	3/2.5	1,719 (+10%)	5mo	$250,000	$145	70
1623 Elizabeth Ln	0.32mi	3/2.0	1,392 (-11%)	3mo	$213,000	$153	64
11045 Knotty Pine Pl	0.36mi	3/2.0	1,410 (-10%)	6mo	$183,000	$130	62
11171 Knotty Pine Pl	0.25mi	3/2.0	1,338 (-14%)	4mo	$235,000	$176	62
1684 Lovejoy Rd	0.59mi	3/2.0	1,688 (+8%)	5mo	$255,000	$151	54
10959 Thrasher Rd	0.54mi	3/2.0	1,395 (-11%)	3mo	$205,000	$147	54
1652 Thorn Ridge Trl	0.53mi	3/2.0	1,360 (-13%)	7mo	$201,000	$148	48
1741 Portwest Way	0.62mi	3/2.0	1,374 (-12%)	6mo	$250,000	$182	46
1792 Portwest Way	0.67mi	3/2.5	1,746 (+12%)	10mo	$263,000	$151	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.2% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-17,315
• Equity at exit: $28,315

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,949
• Equity at exit: $16,419

Cash invested: $53,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30228

• Home prices YoY: -24.3%
• Rents YoY: 2.2%
• Active inventory: 547
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,934 high
• Mortgage (P&I): −$996
• Tax from tax record: −$218 /mo · $2,612/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $235

Break-even live

Break-even rent $1,636

Max offer price $189,900

Occupancy floor 83%

Sensitivity live

Price	-10% $343	-5% $289	+0% $235	+5% $182	+10% $128
Rent	-10% $82	-5% $159	+0% $235	+5% $312	+10% $388
Rate	-1.0pp $331	-0.5pp $284	base $235	+0.5pp $186	+1.0pp $136

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1562 Onalee Dr Hampton, GA	3.0	2.0	2125	$1,800	$0.85	44d	1	0.14mi
1562 Onalee Dr Hampton, GA	3.0	2.5	2125	$1,775	$0.84	19d	1	0.14mi
1578 Onalee Dr Hampton, GA	3.0	2.5	1709	$1,800	$1.05	24d	1	0.16mi
11236 James Madison Dr Hampton, GA	3.0	2.5	1518	$1,870	$1.23	44d	1	0.19mi
11248 James Madison Dr Hampton, GA	3.0	2.5	1986	$1,980	$1.00	12d	1	0.20mi
11035 Shannon Cir Hampton, GA	3.0	2.0	1320	$1,606	$1.22	13d	1	0.28mi
11015 Tara Blvd Lovejoy, GA	1.0–3.0	1.0–2.0	1113	$1,815	$1.63	44d	1	0.29mi
1591 Elizabeth Ln Hampton, GA	3.0	2.0	1352	$1,591	$1.18	44d	1	0.40mi
1902 Grove Way Lovejoy, GA	3.0	2.5	1592	$1,555	$0.98	4d	1	0.49mi
1863 Grove Way Lovejoy, GA	3.0	2.5	1592	$1,660	$1.04	24d	1	0.51mi
10911 Tara Blvd Lovejoy, GA	1.0–3.0	1.0–2.0	1150	$1,795	$1.56	44d	1	0.53mi
1781 Fielding Way Lovejoy, GA	3.0	2.5	1370	$1,545	$1.13	44d	1	0.53mi
1652 Thorn Ridge Trl Hampton, GA	3.0	2.0	1360	$1,960	$1.44	44d	1	0.53mi
2019 Grove Way Lovejoy, GA	3.0	2.5	1524	$1,395	$0.92	44d	1	0.53mi
1992 Lovejoy Rd Lovejoy, GA	1.0–3.0	1.0–2.0	1085	$1,902	$1.75	2d	25	0.57mi
10784 Knotty Pine Pl Hampton, GA	3.0	2.0	1329	$1,795	$1.35	44d	1	0.61mi
11517 Haleigh St Lovejoy, GA	3.0	3.0	2228	$2,000	$0.90	44d	1	0.62mi
10903 Thrasher Rd Hampton, GA	3.0	2.0	1412	$1,725	$1.22	22d	1	0.65mi
11116 Shadow Creek Ter Hampton, GA	3.0	2.5	2195	$2,035	$0.93	13d	1	0.68mi
10887 Tara Blvd Hampton, GA	3.0	2.5	1756	$2,032	$1.16	5d	10	0.70mi
1906 Dalton Way Lovejoy, GA	3.0	3.0	2228	$2,100	$0.94	44d	1	0.73mi
11522 Kimberly Way Lovejoy, GA	3.0	2.5	1700	$2,200	$1.29	5d	1	0.80mi
11531 Kimberly Way Lovejoy, GA	3.0	2.5	1579	$2,200	$1.39	5d	1	0.80mi
2355 Brianna Dr Lovejoy, GA	3.0	2.5	1876	$1,476	$0.79	13d	1	0.81mi
2361 Brianna Dr Lovejoy, GA	3.0	2.5	1384	$1,525	$1.10	22d	1	0.83mi
2306 Nicole Dr Lovejoy, GA	3.0	2.5	1324	$1,800	$1.36	44d	1	0.83mi
2367 Brianna Dr Lovejoy, GA	3.0	2.5	1440	$1,695	$1.18	44d	1	0.83mi
11540 Alicias Ct Lovejoy, GA	3.0	2.5	1876	$1,711	$0.91	5d	1	0.85mi
2275 Nicole Dr Lovejoy, GA	4.0	2.0	1800	$1,835	$1.02	5d	1	0.86mi
1371 Pebble Ridge Ln Hampton, GA	3.0	3.0	2109	$2,120	$1.01	24d	1	0.87mi
11664 Flemming Ct Lovejoy, GA	3.0	2.5	2025	$2,060	$1.02	5d	1	0.88mi
2251 Nicole Dr #119 Hampton, GA	3.0	2.5	1324	$1,700	$1.28	24d	1	0.89mi
2051 Registry Ct Lovejoy, GA	4.0	3.0	2188	$1,940	$0.89	44d	1	0.89mi
11352 Michelle Way Lovejoy, GA	3.0	2.5	1440	$1,485	$1.03	13d	1	0.89mi
2411 Brianna Dr Lovejoy, GA	3.0	2.0	1432	$1,826	$1.28	3d	1	0.90mi
11866 Registry Blvd Unit 1 Hampton, GA	3.0	2.0	1488	$1,650	$1.11	24d	1	0.91mi
11523 Vinea Ln Lovejoy, GA	3.0	2.0	1557	$1,850	$1.19	44d	1	0.94mi
2056 Registry Pl Lovejoy, GA	3.0	2.0	1488	$1,825	$1.23	44d	1	0.97mi
10960 Morning Dove Dr Hampton, GA	3.0	2.0	1600	$4,600	$2.88	44d	1	0.98mi
10950 Southwood Dr Hampton, GA	4.0	2.5	2116	$2,095	$0.99	44d	1	0.98mi

Listing history 34 events

1. 2026-06-18
   days on market $189,900 Active 188 DOM
2. 2026-06-17
   days on market $189,900 Active 187 DOM
3. 2026-06-16
   days on market $189,900 Active 186 DOM
4. 2026-06-15
   days on market $189,900 Active 185 DOM
5. 2026-06-13
   days on market $189,900 Active 183 DOM
6. 2026-06-09
   days on market $189,900 Active 179 DOM
7. 2026-06-08
   days on market $189,900 Active 178 DOM
8. 2026-06-07
   days on market $189,900 Active 177 DOM
9. 2026-06-04
   days on market $189,900 Active 174 DOM
10. 2026-06-03
    days on market $189,900 Active 173 DOM
11. 2026-06-02
    days on market $189,900 Active 172 DOM
12. 2026-06-01
    days on market $189,900 Active 171 DOM
13. 2026-05-31
    days on market $189,900 Active 170 DOM
14. 2026-02-05
    price $189,900 169-char remark

    Show marketing remark (169 chars)

    Nice home on a corner lot. Open Living room, kitchen, dining room plan. 3-bedroom ,2 bath. Open Loft Area with fireplace. 2 car garage. private Larde fenced back yard.

15. 2025-12-10
    listed $204,900 New 169-char remark

    Show marketing remark (169 chars)

    Nice home on a corner lot. Open Living room, kitchen, dining room plan. 3-bedroom ,2 bath. Open Loft Area with fireplace. 2 car garage. private Larde fenced back yard.

16. 2025-12-08
    historical
17. 2025-11-19
    listed $204,900 New
18. 2025-11-12
    historical
19. 2025-11-03
    status Back On Market
20. 2025-06-10
    status Under Contract
21. 2025-05-09
    price $204,900
22. 2025-04-02
    price $219,900
23. 2025-03-12
    listed $224,900 New
24. 2025-02-24
    historical
25. 2025-02-01
    price $224,900
26. 2024-12-26
    status Back On Market
27. 2024-12-24
    historical
28. 2024-11-01
    price $244,900
29. 2024-09-25
    price $254,900
30. 2024-07-24
    listed $269,900 New
31. 2022-02-22
    soldstatus $3,638,000
32. 2015-04-28
    soldstatus $46,900
33. 1997-09-08
    soldstatus $86,000
34. 1988-11-29
    soldstatus $66,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $2,612 · $218/mo
• Projected year-2 tax: $2,612 · $218/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,209
• − Mortgage interest: −$10,637
• − Property taxes: −$2,612
• − Insurance: −$950
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$5,524
• Taxable loss: −$228
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $2,878/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Clayton County
• NCES district ID: 1301230
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $42,266
• Composite: 13.41/100
• National rank: #9527
• State rank: #155 of 174 in GA

Livability — Bonanza

• Score: 62/100
• State rank: #314
• US rank: #16994

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment C- Housing A+ Health & safety F User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonanza, GA
• County: Henry County · 316,359 people
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• Population (ZIP): 52,402
• Household income: $82,619
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 1285.0

Population outlook (Clayton County) Hauer SSP2

• Today (2025): 310,777 people
• By 2030: 329,762 · +6.1%
• By 2040: 368,052 · +18.4%
• By 2050: 401,196 · +29.1%
• By 2075: 472,488 · +52.0%
• By 2100: 500,446 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (63%)
• Race & ethnicity: Black 63% White 23% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Hispanic 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 6% French/Haitian/Cajun 2% Vietnamese 1%

Political lean MEDSL · Clayton

• 2024 margin: Solid D (+69.2) · D 84.3% · R 15.1%
• 2008→2024 swing: +2.8pp toward D · 2008: 66.4pp · 2024: 69.2pp
• All cycles: 2024: D+69.2 2020: D+70.9 2016: D+71.9 2012: D+70.1 2008: D+66.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.11%
• Current HPI: 222.0357
• Rent YoY: ▲ 2.20%
• Metro: Atlanta-Sandy Springs-Alpharetta, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

+187.7% since first listed

21 events — show timeline

• 2026-02-05 Price Changed $189,900 GAMLS
• 2025-12-10 Listed $204,900 GAMLS
• 2025-12-08 Listing Removed — GAMLS
• 2025-11-19 Listed $204,900 GAMLS
• 2025-11-12 Listing Removed — GAMLS
• 2025-11-03 Relisted — GAMLS
• 2025-06-10 Pending — GAMLS
• 2025-05-09 Price Changed $204,900 GAMLS
• 2025-04-02 Price Changed $219,900 GAMLS
• 2025-03-12 Listed $224,900 GAMLS
• 2025-02-24 Listing Removed — GAMLS
• 2025-02-01 Price Changed $224,900 GAMLS
• 2024-12-26 Relisted — GAMLS
• 2024-12-24 Listing Removed — GAMLS
• 2024-11-01 Price Changed $244,900 GAMLS
• 2024-09-25 Price Changed $254,900 GAMLS
• 2024-07-24 Listed $269,900 GAMLS
• 2022-02-22 Sold (Public Records) $3,638,000 Public Records
• 2015-04-28 Sold (Public Records) $46,900 Public Records
• 1997-09-08 Sold (Public Records) $86,000 Public Records
• 1988-11-29 Sold (Public Records) $66,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,612 · -2.9% YoY. Source: county tax records.